The Consumer Financial Protection Bureau (CFPB) issued its final rule on payday, vehicle title, and certain high-cost installment loans. The new rule is effective in 2019 and imposes stringent underwriting requirements and...more
10/16/2017
/ Ability-to-Repay ,
Automotive Loans ,
Balloon Payments ,
Car Dealerships ,
Consumer Financial Protection Bureau (CFPB) ,
Final Rules ,
Installment Agreements ,
Lenders ,
Payday Loans ,
Proposed Rules ,
Title Loans ,
Underwriting ,
Unfair or Deceptive Trade Practices
Last week, the CFPB issued its long-awaited final rule amending Regulation E (Electronic Funds Transfer Act) and Regulation Z (Truth in Lending Act) to create regulations for prepaid financial products (Prepaid Rule). The...more
10/14/2016
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
EFTA ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
Notification Requirements ,
Payroll Cards ,
Prepaid Payment Products ,
Regulation E ,
Regulation Z ,
Truth in Lending Act (TILA)
In previous blog postings, we discussed an informal announcement from the Consumer Financial Protection Bureau (CFPB) of its intent to delay the effective date of the new integrated mortgage disclosure rule under Truth In...more